Eastern Auto Parts Incorporated has 20 percent of its sales paid for in cash and 80 percent on credit. All credit accounts are collected in the following month.Assume the following sales:January$ 82,000February72,000March117,000April62,000Sales in December of the prior year were $92,000.Prepare a cash receipts schedule for January through April.

Cash receipts schedule are those schedule how much cash we collected in a particular months or…

Answered: Eastern Auto Parts Incorporated has 20…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 34E: A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and...

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Eastern Auto Parts Incorporated has 20 percent of its sales paid for in cash and 80 percent on credit. All credit accounts are collected in the following month.

Assume the following sales:

January	$ 82,000
February	72,000
March	117,000
April	62,000

Sales in December of the prior year were $92,000.

Prepare a cash receipts schedule for January through April.

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